Packaged bank account fees

Joanner

Just got a cheque from lloyds bank for£3,000 thank you Martin and team. Packaged bank account that was sold as "you can only get an overdraft if it's a gold account £10 a month charge" never used the package once as was irrelevant to my lifestyle. Never explained to me it was holiday insurance etc. So happy to get the money back as I felt like I'd been tricked out of my money. This was also an old account that had been closed for eight years.

dory30

i also had this forced on me while suffering wit depression, did you apply for this through MSE

Nasqueron

dory30 wrote: »

i also had this forced on me while suffering wit depression, did you apply for this through MSE

Nothing was forced on you


If you feel it was miss-sold, send a complaint to the bank about why you feel it was miss-sold and see what they say. Many packaged bank accounts are time barred though, if it was taken out more than 6 years ago then chances are they will bar it from that and the 3 year rule as they send statements annually which are sufficient to trigger it

Thinkerthinker123

My case is slightly different in that I was aware of my benefits except that they mis-sold it. For instance, my mobile phone insurance - I didn't know that it had to be registered for me to file a claim and also was not made aware that travel insurance only covers within EU. with the 3 year rule, would the point of discovery be from when I discovered there is a problem (in 2017 when I filed mobile insurance claim which was not successful) or from the point they send annual statements, because my view is I couldn't have known there was a problem with the account until I tried to use one of those benefits (I.e. claim mobile insurance).. Any thoughts please?

dunstonh

Thinkerthinker123 wrote: »

My case is slightly different in that I was aware of my benefits except that they mis-sold it. For instance, my mobile phone insurance - I didn't know that it had to be registered for me to file a claim and also was not made aware that travel insurance only covers within EU. with the 3 year rule, would the point of discovery be from when I discovered there is a problem (in 2017 when I filed mobile insurance claim which was not successful) or from the point they send annual statements, because my view is I couldn't have known there was a problem with the account until I tried to use one of those benefits (I.e. claim mobile insurance).. Any thoughts please?

You have your own thread already:
https://forums.moneysavingexpert.com/discussion/6010254/lloyds-packaged-fees-rejection

Please keep responses on that thread to avoid polluting this one.

rywy79

Not sure if anyone can help or has had a similar experience.
I have an account with Barclays (since about 1997) around 2000 I took out a loan with them. During the meeting the advisor said I needed ppi and that I needed to have a packaged account to help the process. I didn’t want either as my work covered sickness and I didn’t need the benefits of the packaged account. I repaid the loan and had the account for about 4-5 years. I then moved out of the uk and ended the packaged part of the account. Upon my return 2008 I added the packaged part again as I was under the impression I needed to. I queried this a few year later ( I had some family issues during these years and it wasn’t really on my agenda) and cancelled it. I made a claim through a ppi and personally and both times I have been rejected for a claim on both periods (During the second period I made a phone or holiday insurance claim). The loan has never been recognised by them either. Any help or suggestions would be appreciated.

[Deleted User]

rywy79 wrote: »

I made a claim through a ppi and personally and both times I have been rejected for a claim on both periods.

You've already been rejected twice, so there doesn't appear to be anywhere to go with this.

If you have complained in the last six months, though, you have the option of referring your complaint to the Ombudsman.

If it was longer than six months ago, you need to realise that your complaint was over the first time you complained and that any subsequent complaint will now result in a response simply and tersely repeating the original rejection.

From what you say, it sounds like you were rejected because you cancelled the PBA some years ago and that the loan you had in 2000 is no longer on record.

rywy79

Thanks for this. I think the reason for them rejecting was I cancelled the packaged payment then applied it back to the account when I returned to the country. Unfortunately I just thought I needed to have it as I was originally told I needed it to help the loan through. Not a massive issue just my initial gripe was that I was 100% missold (actually pretty much tricked) but didn’t actually realise they had broken laws until about 2010. Thanks for response!

dunstonh

but didn’t actually realise they had broken laws until about 2010

They havent broken any laws. There is nothing wrong with PBAs. I was at a FOS meeting some years back and they said they had absolutely no concerns about PBAs as a product/concept.

donsleight

i received a GOGW payment of £51.67 today with no explanation about it? NatWest have been helping themselves to £18 pounds a month from my account for many years, i was expecting a bit more money to be honest they’ve forgotten to add a zero or two ����

thomasj1989

donsleight wrote: »

i received a GOGW payment of £51.67 today with no explanation about it? NatWest have been helping themselves to £18 pounds a month from my account for many years, i was expecting a bit more money to be honest they’ve forgotten to add a zero or two ����

Don have you received correspondence from them explaining the decision? GOGW indicates they have rejected your complaint and should therefore be sending you a letter with your FOS rights and explaining the decision including account history and timeline of events. Depending on how long you've held your account it may influence them as they will say you could have complained sooner.